What Is Petro (PTR)? The cryptocurrency Petro was proposed by the president of Venezuela, Nicolas Maduro, in December 2017. The Petro was launched in 2018 but has failed to gain traction or help solve the country’s economic problems. It was supposedly backed by Venezuela’s oil, natural gas, and mineral reserves for stability. Key Takeaways Petro
What Are Petrodollars? Petrodollars are crude oil export revenues denominated in U.S. dollars. The term gained currency in the mid-1970s when soaring oil prices generated large trade and current account surpluses for oil exporting countries. Then as now, oil sales and the resulting current account surpluses were denominated in dollars because the U.S. dollar was—and remains—by
What Is Petroleum? Petroleum, also called crude oil, is a naturally occurring liquid found beneath the earth’s surface that can be refined into fuel. A fossil fuel, petroleum is created by the decomposition of organic matter over time and used as fuel to power vehicles, heating units, and machines, and can be converted into plastics.
What Is a Performance Budget? A performance budget is one that reflects both the input of resources and the output of services for each unit of an organization. The goal is to identify and score relative performance based on goal attainment for specified outcomes. This type of budget is commonly used by government bodies and
What Is Performance-Based Compensation? Performance-based compensation is an incentive-based form of compensation that can be paid to portfolio managers of investment funds. Regulated mutual funds with performance-based compensation may add approximately 0.20% to their management fees for performance-based incentives. Within the investment industry, hedge fund managers are most well known for receiving high levels of performance-based
What is a Performance Fee? A performance fee is a payment made to an investment manager for generating positive returns. This is as opposed to a management fee, which is charged without regard to returns. A performance fee can be calculated many ways. Most common is as a percentage of investment profits, often both realized
What is Performance Index Paper (PIP)? Performance Index Paper (PIP) is short-term commercial paper where the interest rate is denominated and paid in a currency whose value varies with the value of another currency. Key Takeaways Performance Index Paper (PIP) is short-term commercial paper where the interest rate is denominated and paid in a currency
What Is Performance Management? Performance management is a corporate management tool that helps managers monitor and evaluate employees’ work. Performance management’s goal is to create an environment where people can perform to the best of their abilities and produce the highest-quality work most efficiently and effectively. Key Takeaways Performance management tools help people to perform
What Is Period Certain? Period certain is an annuity option that allows the customer to choose when and how long to receive payments, which beneficiaries can later receive. This is unlike the more conventional life, lifetime or pure life annuity option, in which the annuitant receives an income payment for the rest of their life
What Is a Periodic Interest Rate? A periodic interest rate is a rate that can be charged on a loan, or realized on an investment over a specific period of time. Lenders typically quote interest rates on an annual basis, but the interest compounds more frequently than annually in most cases. The periodic interest rate
